New York Minimum Wage Increase for 2015

New York Minimum Wage Increase for 2015

Effective next Wednesday, December 31, 2014, a New York minimum wage increase will occur, rising from $8.00 to $8.75 per hour. The minimum wage will further increase to $9.00 per hour on December 31, 2015. There is currently no planned increase in the minimum wage for...
Tax Relief for Businesses

Tax Relief for Businesses

Congress Provides 2014 Tax Relief for Businesses On December 16, 2014, the Senate passed the Tax Increase Prevention Act of 2014 (TIPA), which the House passed on December 3. The act extends through December 31, 2014, certain tax relief provisions that expired at the...

Year-End Tax Planning for 2014

The end of 2014 is quickly approaching, so it’s important that everything is in order to ensure there are no surprises when the time comes to file taxes. Year-end tax planning for small businesses isn’t something to put off or ignore. It’s important to look at your...
Social Security Benefit Increase for 2015

Social Security Benefit Increase for 2015

The Social Security Administration announced today a 1.7% Social Security benefit increase for 2015. From the Social Security Administration’s press release: Monthly Social Security and Supplemental Security Income (SSI) benefits for nearly 64 million Americans will...
Additional Compensation for Exempt Employees

Additional Compensation for Exempt Employees

Is it permissible to pay additional compensation for exempt employees without jeopardizing an employee’s exemption status? The Fair Labor Standards Act (FLSA) allows employers to compensate exempt employees with additional compensation (beyond the employee’s regular...

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